51024
US Construction Spending Falls
US Construction Spending Falls

US Construction Spending Falls

US Construction Spending Falls

 US construction spending fell in August for the second straight month to its lowest level in eight months, an unexpected drop driven by weakness across public and private sectors, CNBC reported. The successive declines suggest home building might not help economic growth in the third quarter. The Commerce Department said on Monday construction spending dropped 0.7% in August to a seasonally adjusted annual rate of $1.142 trillion, the lowest since December 2015. Economists had expected outlays to rise 0.2%. The government also revised downward its estimate for July, saying spending declined 0.3% rather than the initial estimate that outlays were unchanged. In August, private construction spending fell 0.3%, with outlays on residential construction down by the same amount. Spending on private nonresidential structures fell 0.4% in August. Public construction spending dropped 2% in August to the lowest level since March 2014, with lower spending reported for highways and schools.

Short URL : https://goo.gl/vOn1oA
  1. https://goo.gl/rxaisT
  • https://goo.gl/UBm5zU
  • https://goo.gl/DsqZqa
  • https://goo.gl/5qLmAh
  • https://goo.gl/iV3zKN

You can also read ...

Deutsche Bank CEO John Cryan (L) and ECB President Mario Draghi at a conference in Frankfurt on Sept. 6.
The head of Germany’s biggest private lender wants the...
Analysts say the outlook for Britain’s public finances had “weakened significantly” with Brexit likely to put further pressure  on the country’s economic strength.
Moody's cut Britain's long-term credit rating Friday, citing...
President Emmanuel Macron (C) signs a set of executive orders making sweeping changes to France’s complex labor laws on Friday.
France’s private sector expanded the most since May 2011,...
The People’s Bank of China
China’s small banks are struggling to raise funds through...
Portugal Budget Deficit Narrows
Portugal’s budget deficit narrowed to 1.4% of gross domestic...
India Eases Foreign Investment Rules
The Reserve Bank of India eased rules governing foreign...
Workers unite in steely opposition to Thyssenkrupp’s deal with Tata.
Thousands of steelworkers hit the streets of Bochum in Germany...
Indonesia Cuts Key Rate
Indonesia’s central bank cut its main interest rate for the...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus